HF&F is hiring – Paralegal
Hassani, Focas and Fifer, P.A. seeks professional Paralegal to join our busy Estates and Trusts practice. The successful candidate will work with attorneys on estate and trust administration matters. Primary responsibilities include: – Preparation of probate filings (petitions, inventories, accountings, final reports, etc). – Preparation of documents relating to the identification, collection, and valuation of […]
HF&F is hiring – Associate Attorney
Hassani, Focas and Fifer, P.A. seeks an associate attorney to join its growing practice. This is a partner-track position offering top compensation and generous benefits for qualified applicants and an opportunity for rapid advancement. The position will primarily focus on estate and trust administration, including probate filings, income, estate and gift tax return preparation, accountings, […]
2020 FIDUCIARY INCOME TAX – Updated Rates and Brackets
The following is some commonly relevant federal and Maryland income tax information for estates and trusts. Feel free to bookmark this page for future reference. Ordinary Income Tax Rates for Estates and Trusts 2020 Federal Income Tax Rates for Estates and Trusts Taxable Net Income Federal Tax Not over $2,600 10% of taxable income Over $2,600 […]
DIY ESTATE PLANNING – Who can I hold responsible for failed plans? NO ONE!
This article is part of a series of articles addressing various issues with DIY planning. An introduction to this topic was published on February 12, 2020. Now, we address perhaps the most troubling aspect of the DIY estate planning arrangement – no one can be held responsible if the plan does not work!!! As a […]
DIY ESTATE PLANNING
WHAT YOU DON’T KNOW CAN HURT YOU Online services like LegalZoom and Rocket Lawyer allow customers to produce Wills and other estate planning documents inexpensively without the assistance of an attorney. Understandably, many consumers are attracted by low upfront costs; however, they fail to appreciate the dangers and shortcomings of eliminating professional guidance from their […]
MARYLAND ESTATE TAX – How lifetime gifts can eliminate the tax
Recent tax law changes have significantly increased both the Federal Estate Tax and Maryland Estate Tax exemptions. As of January 1, 2019, the Federal exemption per individual is $11.4 Million and scheduled to increase annually with inflation. The Maryland exemption is frozen at $5 Million per individual. Married couples can double both the Federal and […]
MODIFIED ADMINISTRATION – What is it? Why (not) elect it?
Personal Representatives (PRs) of Maryland probate estates are normally required to file detailed accountings of estate financial transactions with the Register of Wills, which are then approved by the Orphans’ Court. This can be tedious and costly. Responding to public pressure for simplification, the Maryland legislature in 1997 enacted a statute permitting an abbreviated procedure […]